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The Park family would like to prepare next month's family budget by forecasting its family expenses. The following data show the amount of money spent on food for the last 10 months. Complete parts a through d below. Month Dollars 1 343 2 357 3 294 The best choice is the a) Forecast the family's food expenditures next month using a three-period simple moving average. The forecast for the family's food expenditures next month is $ (Round to the nearest dollar as needed.) b) The forecast for the family's food expenditures next month is $ (Round to the nearest dollar as needed.) d) Which forecast should you choose? Why? 4 336 The forecast for the family's food expenditures next month is $ (Round to the nearest dollar as needed.) c) Forecast the family's food expenditures next month using exponential smoothing with a = 0.1. 5 361 because it has the 6 339 Forecast the family's food expenditures next month using a three-period weighted moving average with weights 0.7, 0.2, and 0.1, applying 0.7 to the most recent data and 0.1 to the oldest data. 7 322 mean average deviation (MAD). 8 319 9 370 10 350 D

The Park family would like to prepare next month's family budget by forecasting its family expenses. The following data show the amount of money spent on food for the last 10 months. Complete parts a through d below. Month Dollars 1 343 2 357 3 294 The best choice is the a) Forecast the family's food expenditures next month using a three-period simple moving average. The forecast for the family's food expenditures next month is $ (Round to the nearest dollar as needed.) b) The forecast for the family's food expenditures next month is $ (Round to the nearest dollar as needed.) d) Which forecast should you choose? Why? 4 336 The forecast for the family's food expenditures next month is $ (Round to the nearest dollar as needed.) c) Forecast the family's food expenditures next month using exponential smoothing with a = 0.1. 5 361 because it has the 6 339 Forecast the family's food expenditures next month using a three-period weighted moving average with weights 0.7, 0.2, and 0.1, applying 0.7 to the most recent data and 0.1 to the oldest data. 7 322 mean average deviation (MAD). 8 319 9 370 10 350 D

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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The Park family would like to prepare next month's family budget by forecasting its family expenses. The following data show the amount of money spent on food for the last 10 months. Complete parts a through d below. Month Dollars 1 343 2 357 3 294 The best choice is the a) Forecast the family's food expenditures next month using a three-period simple moving average. The forecast for the family's food expenditures next month is $ (Round to the nearest dollar as needed.) b) The forecast for the family's food expenditures next month is $ (Round to the nearest dollar as needed.) d) Which forecast should you choose? Why? 4 336 The forecast for the family's food expenditures next month is $ (Round to the nearest dollar as needed.) c) Forecast the family's food expenditures next month using exponential smoothing with a = 0.1. 5 361 because it has the 6 339 Forecast the family's food expenditures next month using a three-period weighted moving average with weights 0.7, 0.2, and 0.1, applying 0.7 to the most recent data and 0.1 to the oldest data. 7 322 mean average deviation (MAD). 8 319 9 370 10 350 D
Transcribed Image Text:The Park family would like to prepare next month's family budget by forecasting its family expenses. The following data show the amount of money spent on food for the last 10 months. Complete parts a through d below. Month Dollars 1 343 2 357 3 294 The best choice is the a) Forecast the family's food expenditures next month using a three-period simple moving average. The forecast for the family's food expenditures next month is $ (Round to the nearest dollar as needed.) b) The forecast for the family's food expenditures next month is $ (Round to the nearest dollar as needed.) d) Which forecast should you choose? Why? 4 336 The forecast for the family's food expenditures next month is $ (Round to the nearest dollar as needed.) c) Forecast the family's food expenditures next month using exponential smoothing with a = 0.1. 5 361 because it has the 6 339 Forecast the family's food expenditures next month using a three-period weighted moving average with weights 0.7, 0.2, and 0.1, applying 0.7 to the most recent data and 0.1 to the oldest data. 7 322 mean average deviation (MAD). 8 319 9 370 10 350 D
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